ORDER

A. K. Patnaik, J. —

Leave granted.

2. These are appeals against the order dated 24.09.2007 of the Division Bench of the High Court of Delhi in L.P.A. No.1098 of 2006 and against the order dated 02.11.2007 of the Division Bench of the High Court of Delhi in Review Application No.396 of 2007.

3. The facts giving rise to these appeals briefly are that the appellant carries on the business of export of brass art-wares and other Indian handicrafts. On 09.10.1991, two Advance Licences were issued to the appellant for import of 240 MT’s of brass dross/ash against each of the licences for the C.I.F. value of Rs.24,64,800/- and Rs.24,64,000/- respectively with the condition to export of 80 MT’s of brass art-ware against each of the licences for FOB value of US dollars 2,37,082.95 and US dollars 2,38,545 within a period of 12 months. As the appellant failed to discharge its export obligation under the licences, two show-cause notices dated 26.09.1996 were issued to the appellant and its partners to show cause why penalty under Section 11(2) of the Foreign Trade (Development and Regulation) Act, 1992 (for short ‘the Act’) will not be imposed on it. Thereafter, two orders dated 24.05.200